Iconic electronics giant Sony is expected to shed 10,000 jobs worldwide over
the next year as it tries to return to profit.

The retailer is attempting to carry out sweeping reforms which would result in 6pc of its global workforce being cut as it struggles with weak TV sales and swelling losses, Japanese media reported yesterday.

About half of the job cuts will come from Sony's restructuring of its chemical unit, the Nikkei said. Sony is also merging its liquid crystal display (LCD) panel operation with Toshiba and Hitachi.

The group's top seven executives are understood to be giving up their annual bonus. Sony reported a ¥159bn (£1.2bn) loss for the three months to December and doubled its projected loss for the full fiscal year.

The jobs cull comes after Sony shed its Welsh-born US chief executive Sir Howard Stringer, who was replaced by his protégé Kazuo Hirai.

Industry analysts have said Sony must usher in major reforms amid fierce overseas competition and continuing losses at its mainstay television business.